Slamming the State Bank of India’s decision to sell the non-performing assets (NPAs) in the education loan portfolio to Reliance Asset Reconstruction Company, the CPI(M) asked the State Government to help students repay the loans. The CPI(M) organised an agitation here on Monday with the demand.

The CPI(M) district secretary, K. Subramanian, told The Hindu that though the party was of the opinion that the students should repay the loans, selling NPAs to asset restructuring companies would only aggravate the problems faced by those who could not repay it for genuine reasons.

Notices

Already, many students who have started receiving notices. The SBI should scrap the deal with Reliance ARC, he said.

The failure of the State Government to give free education to the students by setting up adequate numbers of colleges has resulted in they studying in private colleges paying exorbitant fees.

And hence, the State Government should pay the loans for the students as in the case of farm loans, the party said.

[Source:- The Hindu]